Even Dimon has back-pedaled since then. I say, yeah, until that first paycheck. Then they direct deposit and they love Chase. Read next: Millennials Prefer Debit Cards to Credit Cards.

Since then banks have gotten in the game. And millennials have matured—to a point, discovering the value of traditional branch banking as Dimon suggests. Acorns is investing in the future from ground zero—meaning birth. Uniform Gift to Minors Act, allowing parents to begin setting aside money for newborns in the same ways the company’s predominantly millennial customer base sets aside money for itself now. Acorns’ specialty is marrying spending with saving so that asset accumulation occurs relentlessly in the background. Given Americans’ penchant for spending, and their difficulty saving, this approach holds promise. The company’s primary app is a round-up mechanism.

The company monitors customer credit and debit cards and on each purchase rounds up to the nearest dollar. Read next: Millennials Think They Can’t Save a Million. 1 a month for small accounts and . Accounts number more than 1 million. In August, Acorns added another feature. Millennials love cash-back transactions, Kerner says, so Acorns introduced Found Money, which rewards customers with cash in their investment accounts when they buy something from an Acorns partner.

Other partners include Hotel Tonight and Dollar Shave Club. Kerner says he is in talks for cash forward deals with a variety of other Millennial favorites, including some lodging and transportation companies. Can such micro investing make a difference? Yes—but only over the long run and only if the funds are left to grow. That’s important math because young people have that kind of time and cannot count on the social safety net that older generations have enjoyed.